Bukit aman: Mule account offences are becoming a growing concern, with thousands of Malaysians, including students, being exploited by financial crime syndicates promising easy returns, said Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Rusdi Mohd Isa.

According to BERNAMA News Agency, as of Monday (July 21), a total of 39,006 mule account cases had been detected, with 10,635 of the cases charged in court. In 2024, there were 51,197 cases, involving over 33,000 cases brought to justice. “This is not merely a financial issue; it has become a form of organised crime used by syndicates to carry out illegal activities, including online fraud, fake investments, and e-commerce fraud,” Rusdi told a media conference on CCID current issues.

Rusdi elaborated that action can be taken against those involved under sections 424A, 424B, and 424C of the Penal Code, which carry a prison sentence of up to 10 years and a maximum fine of RM150,000, depending on the level of involvement and the offence. Forms of involvement include handing over bank account details to a third party without reasonable cause, opening bank accounts for others, and using one’s account to carry out dubious transactions.

Rusdi recommended the ‘T.A.K.E.F.I.V.E’ formula as a preventive guideline to help the public avoid falling victim to financial fraud syndicates and mule account offences. The first step is Think – individuals need to think critically before making any investment decisions and avoid hasty actions. The second step, Ask, involves asking questions and seeking valid documents before providing banking or investment information, as well as checking with the relevant authorities.

Knowledge plays a crucial preventive role, requiring public awareness of the latest modus operandi used by cyber criminals. This includes carrying out e-Checks using portals such as Semak Mule PDRM, Investment Checker by the Securities Commission, and the Financial Consumer Alert List by Bank Negara Malaysia.

“The fifth step is Fight – avoid being susceptible and don’t be deceived by promises of huge or quick returns – and the sixth step is to practice the principle of Ignore, whereby the public is advised not to entertain dubious offers, particularly on social media,” Rusdi stated. He added that the public must be Vigilant to ensure they do not fall into scammers’ traps and to End any relationship or stop communicating with suspicious individuals.